Revolut is one of the financial entities that has grown the most in Spain. Born in the United Kingdom in 2015 and with the intention of simply offering a prepaid card for traveling, It currently has more than 40 million customers worldwide. Spanish customers now have the option to use Bizum if they are Revolut customers.
Bizum has arrived at Revolut
Bizum is an instant money sending and receiving system compatible with 37 financial entities in our country and it has become a very popular option. Revolut customers who wanted to make their bank account their primary account but ended up resisting because Bizum was not available can now take the plunge.
If you have Revolut and want to start authorising Bizum, all you need to do is try sending money to someone from your Revolut app. You don’t need to unsubscribe from the Bizum service with your other bank, as this is an automatic process.
When you want to create a Bizum on Revolut and you still have an active service with another entity, it will ask you if you want to start using Bizum with Revolut. If you continue, the system will send you an SMS with a code to verify the changewhich is done immediately. From this moment on, you already have the Bizum service active with Revolut.
Bizum has become the preferred system for sending and receiving money in Spain. It is associated with the holder’s DNI and as you can see, Moving your Bizum account from one bank to another is extremely simple. Since Bizum is associated with the DNI, a person cannot have two Bizum accounts.
This system eventually replaced wire transfers in many cases, since Bizum is immediate, It has no cost and above all, it is quite simple to achieve.
Revolut customers in Spain also already have a Spanish IBAN bank account, which allows them to receive their payroll or direct debit receipts. Revolut’s growth in our country has been spectacular, since last year increased its customer base by 40%. Among its advantages is the possibility of making currency exchanges immediately, which makes it ideal for making payments abroad or withdrawing money from ATMs with very low commissions.
